Britain’s most expensive coastal location is in Devon

Once again Devon is the most expensive place to buy a house on the British coast. Salcombe has retained its status as the most expensive location for coastal property.

The latest analysis from Lloyds Bank shows that properties in the town, known for its stunning views over the Kingsbridge Estuary, now have an average price of £970,657. This represents a decline of 22% (or a drop in cash term of £270,641) compared to 2022, when prices were above £1.2m.

Wealthy Sandbanks, home to celebrities including Harry Redknapp, follows closely in second place with an average property price of £957,739. Padstow in Cornwall, famous for Rick Stein’s Seafood Restaurant, comes in third with houses costing an average of £701,979.

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Recent data shows that Lyme Regis in Dorset and St Ives in Cornwall have entered the top 10 most expensive coastal locations. Both areas have average property prices of over £500,000.

Reflecting on her findings, Amanda Bryden, Head of Mortgages at Lloyds Bank, commented: “Sea views, sandy beaches, cool morning swims. It’s easy to see why coastal living is so desirable. Our data reveals the most desirable coastal locations in the country can attract average price tags of almost a million pounds, while high-demand properties often cost much more.

“These more expensive areas can result in a lack of affordable housing for first-time buyers, a problem that is often exacerbated by the high level of second home ownership, meaning many who grew up in the area could face a high price for owning your own home locally There are more affordable places where you can live by the sea, especially the further north you go.

“Those with a more adventurous streak may want to consider settling in Rothesay on the charming Isle of Bute, which will set buyers back around £100,000 on average. It’s also important to remember that in some coastal areas around Britain idyllic image of a seaside resort does not apply.”

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